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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
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Oneok Inc. (OKE - Free Report) closed at $68.97 in the latest trading session, marking a +0.98% move from the prior day. This change outpaced the S&P 500's 1.23% loss on the day. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Coming into today, shares of the natural gas company had gained 13.53% in the past month. In that same time, the Oils-Energy sector gained 9.54%, while the S&P 500 gained 5.04%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. In that report, analysts expect Oneok Inc. to post earnings of $0.88 per share. This would mark year-over-year growth of 2.33%. Meanwhile, our latest consensus estimate is calling for revenue of $5.73 billion, up 79.5% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.79 per share and revenue of $21.73 billion, which would represent changes of +13.13% and +31.36%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Oneok Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.43% higher. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Oneok Inc.'s current valuation metrics, including its Forward P/E ratio of 18.01. Its industry sports an average Forward P/E of 11.05, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
Also, we should mention that OKE has a PEG ratio of 2.13. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. OKE's industry had an average PEG ratio of 3.23 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
Oneok Inc. (OKE - Free Report) closed at $68.97 in the latest trading session, marking a +0.98% move from the prior day. This change outpaced the S&P 500's 1.23% loss on the day. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Coming into today, shares of the natural gas company had gained 13.53% in the past month. In that same time, the Oils-Energy sector gained 9.54%, while the S&P 500 gained 5.04%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. In that report, analysts expect Oneok Inc. to post earnings of $0.88 per share. This would mark year-over-year growth of 2.33%. Meanwhile, our latest consensus estimate is calling for revenue of $5.73 billion, up 79.5% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.79 per share and revenue of $21.73 billion, which would represent changes of +13.13% and +31.36%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Oneok Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.43% higher. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Oneok Inc.'s current valuation metrics, including its Forward P/E ratio of 18.01. Its industry sports an average Forward P/E of 11.05, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
Also, we should mention that OKE has a PEG ratio of 2.13. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. OKE's industry had an average PEG ratio of 3.23 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.